MarZDoates Posted August 30, 2004 Posted August 30, 2004 Does family attribution apply in a partnership? One partner is a more than 5% owner in the partnership. His son is an employee and a participant in the 401(k). Would the son also be considered a Key Employee? Thank you. QPA, QKA
Brian Gallagher Posted August 30, 2004 Posted August 30, 2004 Yes. Family attribution rules apply for the 5% owner rule. Remember: two wrongs don't make a right, but three rights make a left.
MarZDoates Posted August 30, 2004 Author Posted August 30, 2004 Whew. Had a massive brain glitche there. I thought that was correct but then second guessed myself. Thank you. QPA, QKA
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